Touchstone Exploration (LON:TXP) Earns “Speculative Buy” Rating from Canaccord Genuity Group

Touchstone Exploration (LON:TXP)‘s stock had its “speculative buy” rating reiterated by equities researchers at Canaccord Genuity Group in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a GBX 60 ($0.78) price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 172.73% from the stock’s current price.

A number of other brokerages also recently issued reports on TXP. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a report on Tuesday, January 28th. Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 60 ($0.78) price target on shares of Touchstone Exploration in a report on Friday, December 13th.

Touchstone Exploration Stock Up 1.1 %

Shares of LON TXP opened at GBX 22 ($0.28) on Thursday. Touchstone Exploration has a twelve month low of GBX 20.63 ($0.27) and a twelve month high of GBX 54 ($0.70). The business has a fifty day simple moving average of GBX 24.57 and a two-hundred day simple moving average of GBX 28.45. The firm has a market cap of £64.78 million, a PE ratio of -7.36 and a beta of 0.70.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.